25-Year PPA at ₹6.75/unit for 1,800 MWh Peak Power; Boosts India’s Green Energy Push with Integrated Solar-BESS Solution
Introduction
In a major stride for India’s renewable energy sector, ACME Solar Holdings Ltd announced on November 11, 2025, that it has bagged a 450 MW/1,800 MWh firm and dispatchable renewable energy (FDRE) project from state-owned SJVN Ltd. This award, part of SJVN’s FDRE-IV tender, positions ACME as a key player in delivering round-the-clock (RTC) renewable power, integrating solar generation with battery energy storage systems (BESS). Valued under a 25-year power purchase agreement (PPA) at a competitive tariff of ₹6.75 per unit, the project underscores the growing emphasis on hybrid solutions to ensure stable, peak-hour supply amid India’s ambitious 500 GW non-fossil fuel target by 2030.
Project Details: A Hybrid Powerhouse
The SJVN FDRE-IV project requires ACME to develop and operate a hybrid setup capable of delivering 1,800 MWh of assured peak power daily, equivalent to 450 MW for four hours. This will be achieved through an integrated solar photovoltaic (PV) array and BESS, ensuring dispatchability even during non-solar hours. ACME plans to leverage its expertise in solar-wind hybrids and energy storage to optimize transmission infrastructure, utilizing nighttime connectivity for early revenue realization.
Rahul Kashyap, Chief Commercial Officer at ACME Solar, emphasized the strategic fit: “Securing the SJVN FDRE-IV project with peak power effectively utilizes available transmission capacity from nighttime connectivity, enabling early revenue realization.” The PPA’s 25-year tenure provides long-term stability, with commercial operations targeted within 24 months, aligning with SJVN’s broader goal of procuring 6,000 MWh of RTC power under its recent tender.
ACME Solar’s Portfolio: Scaling Up Renewables
Gurugram-based ACME Solar Holdings is a frontrunner in integrated renewable solutions, boasting an operational portfolio of 2,918 MW and 4,472 MW under construction, including 13.5 GWh of BESS installations. The company’s diversified mix spans solar, wind, storage, FDRE, and hybrids, with a focus on RTC power to address grid intermittency. This win adds to ACME’s recent successes, including a ₹3,753 crore loan from REC Ltd for a 320 MW FDRE project with SJVN in Rajasthan and Gujarat.
ACME’s Chairman and Founder, Manoj Kumar Upadhyay, highlighted the project’s alignment with national goals: “This funding and award reinforce our commitment to world-class FDRE projects, contributing to India’s green energy transition.” With a development pipeline exceeding 10 GW, ACME is poised to play a pivotal role in de-risking renewables through storage integration.
SJVN’s Vision: Expanding Clean Energy Footprint
SJVN Ltd, a Navratna PSU under the Ministry of Power, is aggressively scaling its renewable capacity to 25 GW by 2040, with a current operational base of 2,188 MW (hydro-focused) and 1,000 MW under construction. The FDRE-IV tender, part of a 1,500 MW (6,000 MWh) initiative, aims to procure assured peak power from ISTS-connected renewables with BESS, promoting grid stability. Recent awards to players like Sembcorp (150 MW) and Zelestra (500 MW) reflect SJVN’s multi-vendor strategy.
SJVN’s Managing Director, Sushil Kumar Soami, noted: “These projects will enhance our renewable mix, ensuring reliable supply during peak demand.” The tender’s success highlights the viability of FDRE at tariffs below ₹7/unit, making renewables competitive with thermal power.
| Project Highlights | Details |
|---|---|
| Capacity | 450 MW solar with BESS for 1,800 MWh peak dispatch |
| Tariff | ₹6.75/unit (25-year PPA) |
| Timeline | Commercial operations in 24 months |
| Developer | ACME Solar Holdings Ltd |
| Procurer | SJVN Ltd (FDRE-IV tender) |
Source: ACME Solar and SJVN announcements.
Implications for India’s Renewable Landscape
This award accelerates India’s shift to dispatchable renewables, addressing the intermittency challenge with BESS integration, critical as solar capacity hits 100 GW by end-2025. It supports the National Green Hydrogen Mission and RTC obligations under the Electricity Act, potentially reducing curtailment and stabilizing tariffs. For ACME, the project enhances its 7 GW pipeline, while SJVN’s 1 GW+ FDRE wins bolster its non-hydro diversification.
Market reaction was swift: ACME Solar shares jumped 10% to hit upper circuit limits post-announcement, reflecting investor optimism in hybrid models. Analysts forecast 15-20% sector growth in 2026, driven by falling BESS costs (down 80% since 2020).
Conclusion: Powering a Sustainable Future
ACME Solar’s 450 MW win from SJVN is more than a project, it’s a blueprint for scalable, dispatchable renewables in India. At ₹6.75/unit, it proves the economic viability of solar-BESS hybrids, paving the way for energy security and decarbonization. As ACME and SJVN collaborate on this milestone, they exemplify public-private synergy in achieving India’s net-zero ambitions. The skies are clear for a greener horizon.
